Fintech Libeo raises EUR 20 million

Thursday 11 February 2021 12:23 CET | News

Libeo has announced a EUR 20 million Series A raise with the partners of DST Global, Serena, Breega and LocalGlobe. 

Libeo digitalises and secures the entire B2B payment process. The platform enables automated invoice collection, team approval and one-click payments without any manual input or need for IBAN numbers.

At a time when individuals can pay each other in one click from their smartphones, most companies continue to print invoices, store them in folders and pay them manually, either by transfer or cheque. This means that small business owners are unable to track their outgoings and so spend nearly 10 hours a week and at least one weekend per month managing their invoices. 

3 in 4 business owners are still processing their invoices in this way, putting their business’s financial health at risk by exposing themselves to data entry errors, fraud and late payments.

Libeo is solving these issues at the source. Users report that thanks to Libeo’s platform, processing their invoices is now up to six times faster. By automating the process, Libeo also reduces manual processing errors and secures payments to prevent fraud. 

With this new round of financing, Libeo will continue to develop its B2B payment service and fuel its expansion across Europe. In addition to its platform, Libeo will be able to serve more users thanks to its new API service, which allows corporate partners such as QuickBooks to embed its payment services directly into their interface. 

Created in January 2019, Libeo enables SME business owners, financial directors and accountants across Europe to centralise, approve and pay their supplier invoices in one click, without IBAN and without having to connect to their bank. More than 35,000 companies have joined Libeo to pay and get paid, including Eurosanté Clinics, Champagne Alain Edouard, Chateau Laguiole, Bodyguard App, Cali Sisters restaurants, Paname Collections or Franchises (Monoprix, Starbucks). 

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Keywords: Libeo, B2B payments, financing
Categories: Banking & Fintech | Payments General
Countries: Europe
This article is part of category

Banking & Fintech